NFJ Investment Group LLC Trims Stock Position in ConocoPhillips (NYSE:COP)

NFJ Investment Group LLC cut its stake in ConocoPhillips (NYSE:COP) by 1.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,490 shares of the energy producer’s stock after selling 114 shares during the quarter. NFJ Investment Group LLC’s holdings in ConocoPhillips were worth $1,139,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of COP. Morse Asset Management Inc purchased a new position in shares of ConocoPhillips during the 3rd quarter worth approximately $805,000. Anchor Investment Management LLC boosted its position in shares of ConocoPhillips by 5.5% during the third quarter. Anchor Investment Management LLC now owns 11,322 shares of the energy producer’s stock valued at $1,192,000 after purchasing an additional 589 shares in the last quarter. Fulcrum Equity Management grew its stake in ConocoPhillips by 24.1% in the third quarter. Fulcrum Equity Management now owns 5,939 shares of the energy producer’s stock worth $625,000 after purchasing an additional 1,155 shares during the period. World Investment Advisors LLC grew its stake in ConocoPhillips by 746.7% in the third quarter. World Investment Advisors LLC now owns 43,928 shares of the energy producer’s stock worth $4,625,000 after purchasing an additional 38,740 shares during the period. Finally, Arvest Bank Trust Division bought a new position in ConocoPhillips in the third quarter worth $11,549,000. 82.36% of the stock is owned by hedge funds and other institutional investors.

ConocoPhillips Trading Up 3.0 %

Shares of ConocoPhillips stock opened at $88.96 on Friday. ConocoPhillips has a 1-year low of $79.88 and a 1-year high of $130.77. The company’s fifty day simple moving average is $95.50 and its 200-day simple moving average is $101.58. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.29 and a quick ratio of 1.14. The stock has a market capitalization of $112.46 billion, a PE ratio of 11.42, a P/E/G ratio of 0.79 and a beta of 0.83.

ConocoPhillips (NYSE:COP) last issued its quarterly earnings results on Thursday, February 6th. The energy producer reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.20. ConocoPhillips had a net margin of 16.23% and a return on equity of 17.26%. As a group, equities analysts anticipate that ConocoPhillips will post 8.16 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 17th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Friday, February 14th. ConocoPhillips’s dividend payout ratio is currently 40.05%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on COP shares. JPMorgan Chase & Co. reduced their target price on shares of ConocoPhillips from $127.00 to $115.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. TD Cowen began coverage on shares of ConocoPhillips in a research note on Friday, January 17th. They set a “buy” rating and a $125.00 target price for the company. Royal Bank of Canada lowered their target price on shares of ConocoPhillips from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Monday. Wells Fargo & Company reduced their price objective on ConocoPhillips from $131.00 to $116.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Piper Sandler dropped their target price on ConocoPhillips from $135.00 to $114.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $128.32.

ConocoPhillips Company Profile

ConocoPhillips explores for, produces, transports, and markets crude oil, bitumen, natural gas, liquefied natural gas (LNG), and natural gas liquids in the United States, Canada, China, Libya, Malaysia, Norway, the United Kingdom, and internationally. The company's portfolio includes unconventional plays in North America; conventional assets in North America, Europe, Asia, and Australia; global LNG developments; oil sands assets in Canada; and an inventory of global exploration prospects.